Amplify Alternative Harvest ETF (NYSEARCA:MJ) Trading Up 16.7% – What’s Next?

Shares of Amplify Alternative Harvest ETF (NYSEARCA:MJ) were up 16.7% during trading on Wednesday . The stock traded as high as $31.70 and last traded at $30.28. Approximately 268,864 shares were traded during mid-day trading, an increase of 505% from the average daily volume of 44,469 shares. The stock had previously closed at $25.95.

Amplify Alternative Harvest ETF Stock Up 3.9%

The firm has a market cap of $135.73 million, a P/E ratio of 16.86 and a beta of 1.01. The firm’s 50-day simple moving average is $24.91 and its 200 day simple moving average is $28.51.

Institutional Trading of Amplify Alternative Harvest ETF

Several hedge funds have recently added to or reduced their stakes in MJ. Jane Street Group LLC raised its position in shares of Amplify Alternative Harvest ETF by 42.3% in the first quarter. Jane Street Group LLC now owns 182,616 shares of the company’s stock valued at $3,561,000 after purchasing an additional 54,316 shares during the period. OLD Mission Capital LLC raised its position in shares of Amplify Alternative Harvest ETF by 65.5% in the fourth quarter. OLD Mission Capital LLC now owns 108,013 shares of the company’s stock valued at $3,218,000 after purchasing an additional 42,752 shares during the period. Q3 Asset Management bought a new stake in shares of Amplify Alternative Harvest ETF in the third quarter valued at approximately $1,084,000. Florin Court Capital LLP bought a new stake in shares of Amplify Alternative Harvest ETF in the third quarter valued at approximately $696,000. Finally, Group One Trading LLC bought a new stake in shares of Amplify Alternative Harvest ETF in the third quarter valued at approximately $379,000.

Amplify Alternative Harvest ETF Company Profile

The ETFMG Alternative Harvest ETF (MJ) is an exchange-traded fund that is based on the Prime Alternative Harvest index. The fund tracks an index of global firms engaged in the legal cultivation, production, marketing or distribution of cannabis, cannabinoids or tobacco products. The portfolio is weighted by market cap or equally based on a proprietary system. MJ was launched on Dec 2, 2015 and is managed by ETF Managers Group.